Areas in the tri state area with inexpensive land and housing where survival would be possible2/21/2024 ![]() Towns like Broadford, Beveridge, Kilmore, Seymour and Wallan are projected to quadruple their combined populations from 40,000 to 160,000 in the next 20 years. Broadfordįew locations have the growth dynamics of Mitchell Shire, just outside the northern Melbourne boundary. Towns of substance with houses still in the $300,000s have become harder to find in the wake of the pandemic boom, but the leading East Gippsland centre of Bairnsdale still offers that level of affordability – despite price growth averaging 8.9% per year over the past decade. A vacancy rate of 0.4% and yields in the 5% to 6% range provide added appeal for investors. Eight of the 10 locations have median house prices below $500,000. They’re all places with strong growth dynamics in the mix and most of our Top 10 selections also offer housing affordability relative to Melbourne prices. Most of the Regional Victoria centres where buyer demand is rising are regional cities or hill change towns. The 10 best suburbs in Regional Victoria to invest in The trend continues and the prospect of the 2026 Commonwealth Games will provide further impetus, bringing increased spending on transport, sporting and hospitality infrastructure.īut, after four to five years of big price growth in its key regional cities, Regional Victoria has tapered off a little. Growth centres such as Geelong, Ballarat and Bendigo have now had five years of big price growth and hill change towns north of Melbourne have experienced a major uplift in buyer activity.Īs the pandemic period gave further momentum to the trend, it spread to locations more distant from the capital city – including Warrnambool and Mildura in the west, Wodonga in the north and out through the Latrobe Valley towns to East Gippsland centres like Bairnsdale. One of the earliest manifestations of the ‘Exodus to Affordable Lifestyle’ trend was the uplift in regional Victoria markets within one to two hours drive of Melbourne. ![]() ![]() Find out which suburbs in Regional Victoria made the top 10 list in Canstar’s second annual Rising Stars Australian Property Market Report powered by Hotspotting. ![]()
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